Lysogene: Conversion of the Safeguard Proceedings Into Reorganization ProceedingsJanuary 25, 2023
PARIS–(BUSINESS WIRE)–Regulatory News:
Lysogene (FR0013233475 – LYS) (Paris:LYS), a phase 3 gene therapy platform Company targeting central nervous system (CNS) diseases, announces the conversion of the safeguard proceedings which has been in place since December 13, 2022 into reorganization proceedings.
As announced on January 6, 2023, in the absence of a solution to strengthen its financial situation and secure its cash runway during the safeguard proceedings, Lysogene together with the judicial administrator, filed a request with the Commercial Court of Nanterre for the conversion of the safeguard proceedings into reorganization proceedings. This request was examined and approved by the Commercial Court of Nanterre at the hearing of January 24, 2023.
In this context, Lysogene reminds that a bidding process for the purpose of finding buyers or investors has been published by the judicial administrator on January 6, 2023 and that the deadline for the submission of offers has been set by the latter to February 15, 2023 at 12:00 am.
Interested candidates are invited to contact:
SELARL FHB, Administrateurs Judiciaires Associés
Me Helene BOURBOULOUX,
176, avenue Charles de Gaulle
Access to an electronic data room will be authorized after a confidentiality undertaking and a brief presentation of the candidate.
Lysogene also wants to draw the attention of its shareholders to the fact that, given its financial situation, the proceeds of the sale received under the current collective proceedings will, a priori, only benefit Lysogene’s creditors and will not produce any liquidity for said shareholders.
In view of the above, Lysogene has requested Euronext Paris to maintain the suspension of the listing of its shares.
The market will be regularly informed on the progress of the process and, more generally, on the financial situation of Lysogene.
Lysogene is a gene therapy Company focused on the treatment of orphan diseases of the central nervous system (CNS). The Company has built a unique capability to enable delivery of gene therapies to the CNS to treat lysosomal diseases and other disorders of the CNS. A phase 2/3 clinical trial in MPS IIIA is ongoing. An adaptive clinical trial in GM1 gangliosidosis is also ongoing. Lysogene is also developing an innovative AAV gene therapy approach for the treatment of Fragile X syndrome, a genetic disease related to autism. The Company also entered into an exclusive worldwide license agreement with Yeda, the commercial arm of the Weizmann Institute of Science, for a novel gene therapy candidate for Parkinson disease with GBA1 mutations. www.lysogene.com.
Forward Looking Statement
This press release may contain certain forward-looking statements, especially on the Company’s progress of its clinical trials and cash runway. Although the Company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice, (ii) factors beyond the Company’s control, (iii) clinical trial results, (iv) increased manufacturing costs, (v) potential claims on its products. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “objective”, “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. A further list and description of these risks, uncertainties and other risks can be found in the Company’s regulatory filings with the French Autorité des Marchés Financiers, including in the 2021 universal registration document, registered with the French Markets Authorities on April 19, 2022, and future filings and reports by the Company. Furthermore, these forward-looking statements are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. If the Company updates one or more forward-looking statements, no inference should be drawn that it will or will not make additional updates with respect to those or other forward-looking statements.
This press release has been prepared in both French and English. In the event of any differences between the two texts, the French language version shall supersede.
Contacts – Corporate
Côme de La Tour du Pin
Chief Financial Officer ad interim
+ 33 1 41 43 03 90
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